Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

VOLKSWAGEN (VOW3)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

VW: Evaluation of Porsche Brand Takeover Options Still Ongoing

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/09/2012 | 04:57pm CEST

Volkswagen AG (>> Volkswagen AG) said Saturday the evaluation of possible options for an earlier takeover of Porsche Automobil Holding SE's (PAH3.XE) sportscar unit hasn't been finalized yet after a German media report suggested the auto makers identified a way to bypass a large tax payment and could push through the deal as early as August.

"The evaluation hasn't been finalized yet. As soon as we have the necessary clarity we'll inform about it in due course," Volkswagen said in a statement. The management of Volkswagen controls both Europe's largest auto maker by sales and Porsche's holding firm.

VW already owns a 49.9% stake in Porsche's core sportscar business and wants to take over the remaining 50.1% to reap more cost savings after the plan for a fully fledged merger including Porsche's holding firm had to be abandoned last year due to legal obstacles.

Porsche sold the 49.9% stake in its sports-car unit to Volkswagen in 2009 as part of a complex deal to forge a combined company after its attempt to take over its much larger rival backfired amid ballooning debt in the aftermath of the financial crisis.

At the time, Porsche and Volkswagen mutually granted each other options to transfer the remaining 50.1% stake to Volkswagen if the initial plan for a merger including Porsche's holding firm doesn't work out.

A key aspect of this alternative scenario, however, is a potential tax charge if Volkswagen and Porsche go ahead with the deal before mid-2014. Concluding the deal earlier would enable Volkswagen and Porsche to extract more cost savings faster.

Weekly Wirtschaftswoche reported earlier Saturday on its website that financial authorities in the German federal state of Baden-Wuerttemberg ruled that the deal won't trigger a tax payment of up to EUR1.5 billion if in addition to a purchase price of EUR4.5 billion Porsche's holding firm also receives one single voting share in VW. Baden-Wuerttemberg's finance ministry would view this scenario as a tax-free reorganization instead of an outright sale, according to the report. Baden-Wuerttemberg's finance ministry wasn't immediately available on Saturday.

Write to Christoph Rauwald at [email protected] and Philipp Grontzki at [email protected]

Stocks mentioned in the article : Volkswagen AG
Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE -1.67% 68.52 Delayed Quote.-1.66%
VOLKSWAGEN -2.21% 172.8 Delayed Quote.4.00%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VOLKSWAGEN
05/22U.S. extends deadline for sanctions on Russian van maker GAZ
RE
05/22VOLKSWAGEN : Porsche Recalls Toy Cars in US on Choking Hazard
DJ
05/22VOLKSWAGEN : Board Members Join Porsche AG Supervisory Board
DJ
05/22VW RECALLS 11,000 AUDI CARS IN RUSSI : watchdog
RE
05/22AUDI : VW recalls 11,000 Audi cars in Russia - watchdog
RE
05/22VOLKSWAGEN : „Konnect“ – the Volkswagen Group Campus Tel Aviv
PU
05/18German cities free to ban older diesel cars immediately
RE
05/18Fiat Chrysler shares fall on latest diesel emissions allegations
RE
05/18VOLKSWAGEN : Porsche Asked to Recall Around 60,000 SUVs by German Authority
DJ
05/18VOLKSWAGEN : Porsche to recall 60,000 SUVs for emissions problems - German regul..
RE
More news
News from SeekingAlpha
05/22Global automakers rally on China developments 
05/19TESLA : Tsunami Of Sales And Profits In Q3 
05/17Government Borrowing Escalates, EU May Protects Companies Doing Business With.. 
05/17WALL STREET BREAKFAST : Treasury Yields Keep Climbing 
05/17VW pulls out of Paris Motor Show 
Financials (€)
Sales 2018 241 B
EBIT 2018 18 334 M
Net income 2018 13 420 M
Finance 2018 24 691 M
Yield 2018 3,27%
P/E ratio 2018 6,64
P/E ratio 2019 6,27
EV / Sales 2018 0,26x
EV / Sales 2019 0,23x
Capitalization 87 201 M
Chart VOLKSWAGEN
Duration : Period :
Volkswagen Technical Analysis Chart | VOW3 | DE0007664039 | 4-Traders
Technical analysis trends VOLKSWAGEN
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 202 €
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Martin Hofmann Head-Group Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN4.00%102 605
TOYOTA MOTOR CORP3.11%222 394
DAIMLER-4.80%84 939
BAYERISCHE MOTOREN WERKE2.00%67 893
HONDA MOTOR CO LTD-5.91%60 228
GENERAL MOTORS CORPORATION-7.07%53 255